International Assets Investment Management LLC Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

International Assets Investment Management LLC trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 99.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,841 shares of the medical research company's stock after selling 1,414,575 shares during the period. International Assets Investment Management LLC's holdings in Thermo Fisher Scientific were worth $962,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TMO. State Street Corp boosted its holdings in Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock valued at $10,100,655,000 after acquiring an additional 124,996 shares during the period. FMR LLC grew its holdings in shares of Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company's stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after buying an additional 127,564 shares during the period. Franklin Resources Inc. boosted its position in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after buying an additional 262,062 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Thermo Fisher Scientific by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company's stock worth $1,630,896,000 after acquiring an additional 65,586 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares of the company's stock, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. Bernstein Bank boosted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Bank of America dropped their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating for the company in a research note on Friday, December 13th. Stephens started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an "overweight" rating and a $680.00 price objective for the company. Finally, Scotiabank initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They set a "sector perform" rating and a $605.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $650.52.

Thermo Fisher Scientific Stock Down 0.4 %

Shares of TMO traded down $1.96 on Friday, hitting $542.97. 2,919,946 shares of the stock traded hands, compared to its average volume of 1,985,240. The company has a market capitalization of $207.69 billion, a PE ratio of 34.04, a P/E/G ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The business has a 50 day simple moving average of $530.21 and a 200 day simple moving average of $568.07.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.63 billion. During the same period last year, the firm posted $5.69 earnings per share. Thermo Fisher Scientific's revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a stock repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.